Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Deals of the day-Mergers and acquisitions

Published 06/10/2020, 09:30 pm
Updated 07/10/2020, 12:00 am
© Reuters.

(Adds Clover Health, IG Metall; Updates Premier Oil )

Oct 6 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1300 GMT on Tuesday:

** Insurance startup Clover Health will go public through a merger with blank-check firm Social Capital Hedosophia Holdings Corp III IPOC_u.N in a deal valued at $3.7 billion including debt, the company said. IG Metall, Germany's most powerful union, called on the government to take a stake in the ailing steel unit of crisis-ridden conglomerate Thyssenkrupp TKAG.DE . Telia TELIA.ST has agreed to sell its international carrier business, Telia Carrier, to Polhem Infra for 9.45 billion Swedish crowns ($1.06 billion) on a cash and debt free basis, the operator said. Danone DANO.PA said it would sell its remaining 6.6% stake in Japanese probiotic yogurt maker Yakult Honsha 2267.T in a move that will strengthen the French food group's balance sheet. Private equity-backed Chrysaor has agreed to a reverse takeover of Premier Oil PMO.L , the firms said, creating the British North Sea's largest oil and gas producer at a time the sector is facing a sharp decline in demand. Shares in Puma PUMG.DE fell 3.5% after French luxury group Kering PRTP.PA said it had completed the sale of a 5.9% stake in the German sportswear company for approximately 656 million euros ($772 million). Finablr FINF.L said technology and software solutions firm Prism Advance Solutions has made a takeover offer for the UK-listed payments group that includes restructuring and settlement of its debts, but gave no further details on the bid size. French waste and water firm Veolia VIE.PA has already secured 30% of the capital of its rival Suez SEVI.PA and stands ready to launch an offer on the remainder of the shares, but the month-long battle appears far from over as the target strongly reaffirmed its refusal to yield. Australian gold miner Northern Star Resources NST.AX offered to buy smaller peer Saracen Mineral Holdings SAR.AX in an agreed A$5.76 billion ($4.14 billion) deal that will create a global top-10 gold miner by market value. Syngenta, the Swiss agrichemicals giant owned by ChemChina CNNCC.UL , has acquired Italian biologicals group Valagro, a company with $175 million in 2019 sales that uses natural solutions to fight pests and diseases and to improve crops. Abu Dhabi plans to combine two food and beverage companies to create a new national champion in the sector, as part of consolidation efforts in the oil-rich emirate led by ADQ, a state-owned holding company. BHP Group Ltd BHP.AX BHP.L said it had signed an agreement to acquire Hess Corp (NYSE:HES)'s HES.N entire stake in Shenzi oil and gas field in the Gulf of Mexico for $505 million. K+S SDFGn.DE has signed an agreement to sell its North and South American salt business to Stone Canyon Industries Holdings and affiliates for $3.2 billion, the German minerals miner said in a statement on Monday.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.